HR 2287119th CongressIn Committee

Protecting Families from Inflation Act

Introduced: Mar 24, 2025

Standard Summary

Comprehensive overview in 1-2 paragraphs

The Protecting Families from Inflation Act would require the Federal Reserve Board to study how tariffs placed by the United States since 2017 (and each year thereafter) affect the prices consumers pay and the costs faced by small businesses. The study’s goal is to determine the collective impact of these tariffs on the cost of goods and services in the United States. The Fed would then prepare a report with its findings and submit it to Congress within 270 days of enactment. The bill does not change tariff law or monetary policy; it enlists the Fed to analyze whether tariffs contribute to inflation and higher living costs.

Key Points

1Mandates a study by the Federal Reserve Board on the nationwide tariffs issued since 2017 and annually thereafter.
2Focuses on how these tariffs affect the cost of goods and services for consumers and for small businesses.
3Requires the Board to submit a report to Congress with findings within 270 days after enactment.
4The act is titled “Protecting Families from Inflation Act” but centers on analyzing tariffs as a driver of inflation, not on changing tariffs themselves.
5Introduced in the House (March 24, 2025) by Ms. Bynum (with Mr. Fields and Mr. Liccardo) and referred to the Ways and Means Committee.

Impact Areas

Primary: consumers and small businesses, who would be examined for changes in prices and input costs related to tariffs.Secondary: U.S. tariff policy and its rationale, as Congress could use the study’s findings to inform future policy discussions; Federal Reserve resources and workload to conduct the study.Additional: the bill could influence public and legislative debates on inflation drivers and potential policy responses by providing an official Fed analysis of tariffs’ price effects.

Generated by gpt-5-nano on Nov 18, 2025